Aerospace Composite Market Expected to Reach $64.4 Billion by 2034

According to a new report published by Allied Market Research, titled, “Aerospace Composite Market," The aerospace composite market size was valued at $22.2 billion in 2024, and is estimated to reach $64.4 billion by 2034, growing at a CAGR of 11.3% from 2025 to 2034.

Introduction

Aerospace composite industry are specialized materials designed for aerospace applications, created by combining two or more constituent materials. These composites usually include a matrix, often polymer resin, and a reinforcement material, such as carbon, glass, or aramid fibers. The synergistic combination of these elements results in a new material with enhanced properties like increased strength and stiffness. Aerospace composites play a crucial role in modern aviation and space industries due to their superior characteristics. The aerospace composite market trends indicate a growing demand for lightweight, high-strength materials driven by next-generation aircraft development

Market Dynamics

The aerospace composite market growth is being driven by advancements in material technology and the rising adoption of composite components in both commercial and military aviation. Aerospace composites play a crucial role in the fabrication of aircraft components, such as wings and fuselages, offering a combination of lightweight properties and durability. Carbon fiber-reinforced composites, known for their strength and low weight, are widely utilized in the aerospace sector. The Boeing 789 serves as a prominent illustration of advanced aircraft design. A significant part of its construction involves the use of composite materials, contributing to improved fuel efficiency and overall durability.

Moreover, aerospace composites play a crucial role in the defense sector, particularly in the construction of military aircraft and vehicles. These advanced materials offer stealth capabilities, minimizing radar cross-sections and enabling aircraft to operate covertly. The durability of composites enhances the overall structural integrity and survivability of military platforms.

Aerospace composites play a pivotal role in driving innovation across diverse applications, with a particularly noteworthy impact on the development of unmanned aerial vehicles (UAVs) or drones. The distinctive qualities of aerospace composites, including their lightweight properties and structural strength, position them as optimal materials for fabricating various components crucial to UAV construction.

UAVs are utilized for diverse purposes, ranging from surveillance and reconnaissance to scientific research and package delivery. Aerospace composites play a crucial role in ensuring the structural integrity of these vehicles while allowing for the flexibility needed to incorporate advanced sensors and communication systems. The reduced weight of composites contributes to the extended flight times and increased payload capacity of UAVs.

Moreover, the emerging field of urban air mobility (UAM) is witnessing the integration of aerospace composites in the design and manufacturing of electric vertical takeoff and landing (eVTOL) aircraft. These vehicles are envisioned to revolutionize urban transportation by providing efficient and environmentally friendly alternatives for short distance travel within cities. Composites, with their lightweight properties and design flexibility, contribute to the development of eVTOL aircraft that navigate densely populated urban environments while ensuring safety and performance.

In addition, aerospace composites contribute to the advancement of satellite technologies. The use of composites in satellite components helps reduce the overall weight of the satellite, making it more cost-effective to launch into orbit. The composites offer thermal stability, ensuring the satellite's resilience to the extreme temperature variations encountered in space.

Segments Overview

The aerospace composite market is segmented into fiber type, manufacturing process, aircraft, material type, application, and region. On the basis of fiber type, the market is classified into carbon fiber, glass fiber, aramid fiber, and others. As per the manufacturing process, the market is divided into ATL or AFP, filament winding, resin transfer molding, hand layup, and others. On the basis of aircraft, the market is categorized into commercial aircraft, business & general aviation, civil helicopter, and others. Based on material type, the market is categorized into epoxy resins, glycidylamines, curing agents, hardeners, phenolic, thermoplastic, and others. Based on application, the market is categorized into interior and exterior. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

Competitive Analysis

The major players operating in the aerospace composite market analysis across Evonik Industries AG, Hexcel Corporation, Teijin Limited, DuPont, Mitsubishi Chemical Advanced Materials Inc, Solvay, SGL Carbon, Toray Industries, Inc., Copps Industries Inc, and Sumitomo Bakelite Co., Ltd.

Key Findings of the Study

• Region wise, North America holds a dominant position in the global aerospace composite market share, driven by advanced manufacturing capabilities and the strong presence of key OEMs.
• By composite type, fiber segment is expected to dominate the aerospace composite market during the analysis period.
• On the basis of manufacturing process, the ATL or AFP segment held the largest market share in 2024. 
• By aircraft, the others segment accounted for the highest revenue share in 2024 and is projected to grow at a CAGR of 11.28% from 2025 to 2034. 
• By application, the aerospace composite market for Exterior accounted for highest revenue share in 2024.